Why You Need to Answer Your Accountant’s Questions?

Aaron Meyer

16 Jul
Finance Formations S-Corp Self-Employed Taxes

Listen, we get it. No one likes talking to their accountant. We’re always saying things like “fiscal responsibility” and “accrual basis” plus the only time they ever seem to want to call is when you owe money to a government somewhere. Ugh.; but buried in that arcane language and pedantry is a firm desire on the part of your accountant to make sure that you won’t be audited, and if you are that nothing will come of it. Hidden behind that officious talk is also the need to save you money on your taxes, to make sure you are only paying the tax that you need to and not a penny more.

Most traditional accounting-client relationships are very limited; you often will only hear from your CPA around tax time or when there are taxes needing to be paid throughout the year. Often you will need to be the one pursuing their attention in order to get service. Basically you’d only hear from them if you owe money or something horrible (like tax returns) is about to happen; not a recipe for a great relationship.

Here at Formations, our mission from the start is to take the worry and anxiety over your accounting and tax life for your business away. We automate and make efficient every aspect of your business until it’s like you have an assistant that keeps up on every facet of your finances for you and provides you the data and savings you require to excel at your business. But we occasionally run into issues that make it more difficult for us to do our part. That’s when we need YOUR help to make sure we can give you the most value for your dollar.

Let’s discuss some of the issues that the accountants typically come up against in their regular work:

  • Bank connections not working with accounting software
  • Unidentifiable transactions, either because they are checks with no info or the transaction came from the bank with incomprehensible language
  • Tax payments upcoming
  • Payroll not running at the level necessary for compliance
  • W9 requests for your vendors

The solutions to all of these issues are manageable and we at Formations will make recommendations for your account that will ensure you are only required to provide as little information as possible personally. This includes leveraging banking partnerships to make the bank feeds in our system more automatically classified, calculating payroll needs, and communicating that regularly, sending details on the transactions we need help with, etc.

By leveraging the technological capabilities of our systems we can make sure that when we’re contacting you it’s not solely for the “boring” or “annoying” stuff as most of that will be taken care of without much care from you. This frees our Customer Success Managers’ time to spend on analysis of your finances and making recommendations that will maximize the ability of your S-corp to save you time and taxes, year-round.

Not a formations customer yet? Contact us today to see if we’re a good fit for your business.


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